FOR IMMEDIATE RELEASE 99-109
Statement by SEC Chairman Arthur Levitt on NYSE Vote
Washington, DC, September 2, 1999 -- Securities and
Exchange Commission Chairman Arthur Levitt today issued the
following statement:
"Today the New York Stock Exchange voted to continue their
efforts toward demutualization, and to strengthen the role
of corporate audit committees. We look forward to a
continued constructive dialogue with the NYSE about
important public policy issues presented by demutualization.
We share a common interest in ensuring that any future self
regulatory structure is consistent with the protection of
investors and the maintenance of fair and orderly markets.
I would also like to applaud the NYSE's action on the
recommendations of the Blue Ribbon Panel on Improving the
Effectiveness of Corporate Audit Committees. This action
marks another important step in safeguarding the integrity
of the financial reporting process."
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